Brazilian investment banking group BTG Pactual and Chilean investment manager Celfin Capital have merged to form a new Latin American investment bank targeting asset management opportunities across the region.
Celfin partners Juan Andrés Camus and Jorge Errázuriz, are the new Chilean partners of BTG Pactual.
Camus explained the merger will benefit Celfin’s existing clients as “they will now have access to investors and investments in Asia, Europe and the US…[as well as] capital and financing opportunities and more sophisticated transactions.”
Following the merger, current Celfin partners will hold an equity interest in BTG Pactual and, together with the company’s executives, they will continue to manage its operations in Chile, Peru and Colombia.
Negotiations were initiated between the two groups in August 2011, and the transaction remains subject to all necessary regulatory approvals.
BTG Pactual currently has $23bn in assets under management and a presence in Brazil (São Paulo, Rio de Janeiro, Recife, Belo Horizonte and Porto Alegre), the US (New York), the United Kingdom (London) and China (Hong Kong).
Chile-based Celfin Capital has $4.6bn in assets under management and has a presence in Chile (Santiago), Peru (Lima) and Colombia (Medellín).